Norway Oil Fund buys $341 mln of real estate in Paris

Norway’s $600 billion sovereign wealth fund agreed to buy stakes in five properties in Paris from Italy’s Generali Group as it expands its real estate portfolio in the French capital.
The wealth fund, known as the Government Pension Fund Global, will buy 50 percent stakes in five properties for 275 million euros ($341 million), it said in a statement today. The Oslo-based fund will also form a joint venture with Generali Real Estate, a unit of the Trieste-based insurance company, for property investments in central Paris, it said……………………………………….Full Article: Source